AMGN vs QQQ: Correlation
How closely do Amgen (AMGN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.09, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMGN and QQQ?
Across a 3-year window, the weekly returns of AMGN and QQQ correlate at 0.09, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.09) than the 3-year average (0.09). Stretching to 5 years gives 0.16, with an annualized covariance of 44.2 %².
Among the 31 assets we track against AMGN, QQQ ranks #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AMGN ahead by 29.7 points (+56.0% versus +26.3%). The rolling one-year correlation moved between -0.11 and 0.27 over the past three years, a moderate range.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AMGN vs QQQ: side by side
| AMGN (Amgen) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +56.0% | +26.3% |
| 5-year return | +127.8% | +95.4% |
| Volatility (ann.) | 26.3% | 19.6% |
| Beta vs S&P 500 | 0.34 | 1.28 |
| Max drawdown (3Y) | -22.7% | -22.8% |
| Market cap | $236.3B | – |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 2.23% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Health Care | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | AMGN | QQQ |
|---|---|---|
| 2022 | +20.4% | -32.6% |
| 2023 | +13.5% | +54.9% |
| 2024 | -6.8% | +25.6% |
| 2025 | +29.7% | +20.8% |
| 2026 | +36.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 1.06% of QQQ is AMGN itself, so the fund partly moves with the stock by construction.
Are AMGN and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMGN and QQQ?
The AMGN/QQQ correlation stands at 0.09 on a 3-year window (1 year: -0.09, 5 years: 0.16), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AMGN?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
What does a correlation of 0.09 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: AMGN correlations · QQQ correlations
